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Despite the challenges of 2020, economic developers in the Triangle area capped off a successful year, even in the wake of the ongoing global pandemic. The Triangle’s unemployment rate declined for the second consecutive quarter to 5.5% in Q4; reflecting 120 basis point (bps) drop from the previous quarter.

Houston’s office market contracted by 4.4 million square feet (msf) in 2020, with 15 of the 18 submarkets posting negative absorption for the year. Despite market uncertainty and falling occupancy, rental rates held steady.

As the battle with the effects of pandemic-induced global uncertainties continues, we examine the performance and prospects of growth that are presented to the Philippines’ industrial segment.